Light detection and ranging (LiDAR) market at a compound annual growth rate (CAGR) of 24.0%, from 2017 to 2022

The global light detection and ranging (LiDAR) market should reach $4.5 billion by 2022 from $1.5 billion in 2017 at a compound annual growth rate (CAGR) of 24.0%, from 2017 to 2022.

Report Scope:

This report represents an in-depth analysis of the global LiDAR market by component, type, application and region. The report discusses the differentiation between LiDAR to derive specific market estimates. The report discusses a comparative study between conventional and emerging laser and the importance of the advances in LiDAR. The report also discusses strategies adopted by major players in the global LiDAR market. Patent analysis imparted in the report provides a snapshot of technological trends in the global market over time as well as by geography— namely for the U.S., Europe and Japan. The global LiDAR market is segmented by type of LiDAR: airborne, terrestrial, mobile and UAV.

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Report Includes:

- An overview of the global light detection and ranging (LiDAR) market
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Detailed breakdown of the market by origin, by physical form, by type, by end-use industry, and by geography
- Analyses of the market through market sizes, value chain, and revenue forecasts, along with current and future product trends
- Examination of the competitive landscape and analysis of various competitive products
- Profiles of major players in the industry

Summary

LiDAR enables the collection of a wealth of information for numerous applications and delivers several advantages over traditional methods of aerial mapping. This technology is changing the paradigm of terrain mapping and attaining popularity in several applications such as floodplain mapping, forest inventory, geomorphology, hydrology, landscape ecology, urban planning, survey assessments, volumetric calculations and coastal engineering. These applications can benefit from a combination of LiDAR and geographic information systems (GIS) in order to manage and conduct analysis, disseminate
and visualize LiDAR data. Due to these and many other factors, the LiDAR market is expected to grow at a compound annual growth rate (CAGR) of 24.0% between 2017 and 2022 to attain a market value of $4.5 billion in 2022. Many alternatives to LiDAR can be considered as failed technologies; it follows, then, that the need for a more accurate, more reliable and easier method of collection of the data of the region, and the resulting growth LiDAR technology are key drivers for the market.

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However, the growth of the LiDAR market is limited by factors such as lack of industrial standards of operations and non-interoperability of technologies, as well as the high cost associated with it. If the LiDAR market were at a different stage of its evolution, these restraints could hinder market growth. However, it is expected that further technological advances will bring cost corrections and that standards of operation will improve. The key opportunities for the market are in the adoption of LiDAR by small and medium-size enterprises (SMEs) and superior growth potential in emerging economies. Once the cost of LiDAR is reduced, SMEs and emerging economies are forecasted to deploy these devices in various application sectors in big numbers.

The types of LiDAR available on the market are airborne, terrestrial, mobile and UAV. Currently, airborne LiDAR is the most commonly used; therefore, this had the largest revenue share in 2016, at REDACTED, and will remain the largest market, expected to reach nearly REDACTED by 2022. The mobile LiDAR market is expected to have the highest CAGR – REDACTED – for the period of 2017 through 2022.

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Geographically, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (ROW). North America had the highest revenue in the market in 2016 at REDACTED and it is expectedto continue to dominate the revenue share, with a value of REDACTED in 2022. Since North America is a technologically advanced region, the LiDAR technology initially formed a strong base in the region.However, the Asia-Pacific region is expected to have the best market potential to grow, at a CAGR of REDACTED during 2017 through 2022. This growth potential is due to the fact that emerging nations in
thisregion are involved in heavy industrialization.

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